Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

'Best' broker qualification debate heats up

Notify me of new replies via email
Australian Broker | 01 Aug 2012, 08:00 AM Agree 0
John Symond's claim to have the most qualified brokerage in the country has sparked furious debate in the industry
  • A Broker | 01 Aug 2012, 09:34 AM Agree 0
    I don't think it's so much John Symond's call for brokers to be Diploma qualified that upsets others, moreso the way this message came across. Whilst Aussie may offer an industry qualification as part of their Academy process (which isn't in itself a bad thing), to imply that an intense 2 week course is equal to or better than 10+ years of experience is naive at best, and downright inflammatory at worst. And, with all due respect to John, he certainly doesn't come across as naive ...
  • Jason | 01 Aug 2012, 09:57 AM Agree 0
    Think Aust Broker is just stirring the pot as per usual. Why would Aussie J have allowed this interview when whatever he said was always going to cause controversy anyway? Job Done AB!
  • AussieBen | 01 Aug 2012, 10:12 AM Agree 0
    Storm in a teacup as per usual, stirred by AustralianBrokerOnline.
  • Garry | 01 Aug 2012, 10:32 AM Agree 0
    I remember my early days with Aussie and I can assure you he is arrogant enough to state and actually believe his brokers are the best qualified. The problem is that as ABroker correctly states, 10+ yrs on the job will ALWAYS beat a pathetic 2 week course. Everyone professinal broker knows the Aussie kids are the joke of the industry. I myself lasted 12 months before I got smart and left and have never looked back. Unfortunatley John is just beating his chest trying to talk up his kids but we all know the truth and it cant be denied.
  • Scopher | 01 Aug 2012, 10:34 AM Agree 0
    Self praise is no recognition!
  • Patrick | 01 Aug 2012, 10:38 AM Agree 0
    The claim by Aussie John is, as always, just aimed at brand publicity. There is no substance to the claim and obviously no research has been conducted. I hold a proper Diploma from TAFE, I am also a qualified financial planner and have both a Bachelor of Commerce from UNSW and a Master of Business Administration from Sydney University. Based upon this, unless someone can show perhaps a Phd, I confidently claim that my fully licenced brokerage, Common Cents Financial Services Ltd ABN 83089715819 ACL 393980, I lay claim to the title as the most qualified brokerage in the country. Any challenges?
  • Patrick | 01 Aug 2012, 10:43 AM Agree 0
    Oh, I forgot to mention 26 years in the broad financial services industry and 15 years as an operating self employed mortgage broker. Just for those who claim my academic superiority does not necessarily mean "most qualified". Yep, I also have substantial experience.
  • Beatup | 01 Aug 2012, 10:50 AM Agree 0
    This higher education debate is so off track. The education focus brokers need most is a better understanding of the products that actually suit their clients needs and circumstances. The NCCP requirements that a loan be "not unsuitable" effectively allows a broker to continue to offer the products of their favourite few lenders and that's hardly in the client's interest. No Diploma requirement will overcome this cherry picking approach.

    Aussie making the most qualified brokers claim is just another way they will try to cast an "inferior image" on all other brokers. No one should forget the anti broker propaganda Aussie espoused during their launch ......... get ready for round two.
  • Larz | 01 Aug 2012, 12:02 PM Agree 0
    Well done to Aussie John for stirring up the discussion on education. Unless we are seen by the public to be well trained and holding qualifications we will never be accepted as being professional regardless of how many years of experience we have. The are many weekend gofers who have been perfecting their bad swing for years and with a few minor tweaks they would be a lot better players. Same applies to everything including broking so you need to keep learning and improving or be left behind.
  • Tim | 01 Aug 2012, 05:00 PM Agree 0
    Have read with interest this debate about brokers and education and offer the following comments as I belive the main issue is the comparing experienced brokers with new or recent to the industry entrants. On the job experience combined with Diploma education makes for a better broker so why not make the Diploma course for new to industry brokers include a year or two as an "apprentice" for want of a better word working under a more experienced broker. Some in discussions I have had have called it the equivalent of a Professional Year a solicitor undertakes. The more experienced broker then signs off on the new to industry brokers competence. The experienced brokers would be remunerated and also have to meet certain qualifications before being an accreditted trainer.
  • Tom | 01 Aug 2012, 05:08 PM Agree 0
    John is correct as further study IN CONJUNCTION WITH ongoing field experience is the way to move any quality profession forward.
  • BRIAN TAYLOR | 01 Aug 2012, 06:30 PM Agree 0
  • Tom | 02 Aug 2012, 10:41 AM Agree 0
    the problem is the Diploma is not suitable for brokers with decades of industry experience. That is the whole problem. Diplomas should be an option not mandatory for experienced brokers. Education is good but experienced brokers should be give a choice of a more appropriate course than a Diploma as they do not learn anything new from it. The key work here is CHOICE by the way. This is why there is so much debate about the course with MFAA having made it mandatory to do the Diploma. I won't be surprised if MFAA benefit in some sort of financial way for pushing the course in your face.

    Mr Symonds comments are obviously propaganda for his brand. He is a business man which will rub us brokers the wrong way but unfortunately will work on the public if he markets it well enough.
  • Ray | 30 Aug 2012, 07:45 PM Agree 0
    If they are so good why are they paid so poorly?!
Post a reply